Four Companies Ready to Fund, Take Over and Toll Lagos–Calabar Coastal Highway Section 1 — Works Minister Umahi
Nigeria’s Minister of Works, David Umahi, has revealed that four companies have expressed interest in fully funding, taking over and tolling Section 1 of the Lagos–Calabar Coastal Highway. Speaking during an end-of-year press briefing, Umahi said the firms are willing to refund 100 percent of government expenditure on the section, citing the project’s high return on investment and commercial viability. He said the move aligns with the Tinubu administration’s strategy of leveraging private-sector participation for major infrastructure projects. The 700-kilometre highway, estimated to cost ₦15.6 trillion, has faced criticism over transparency and cost, with former Vice President Atiku Abubakar and others calling for full disclosure of contractual and financing details.
Nigeria’s Minister of Works, David Umahi, has revealed that four companies have expressed interest in fully funding, taking over and tolling Section 1 of the Lagos–Calabar Coastal Highway. Speaking during an end-of-year press briefing, Umahi said the firms are willing to refund 100 percent of government expenditure on the section, citing the project’s high return on investment and commercial viability. He said the move aligns with the Tinubu administration’s strategy of leveraging private-sector participation for major infrastructure projects. The 700-kilometre highway, estimated to cost ₦15.6 trillion, has faced criticism over transparency and cost, with former Vice President Atiku Abubakar and others calling for full disclosure of contractual and financing details.
Four Companies Ready to Fund, Take Over and Toll Lagos–Calabar Coastal Highway Section 1 — Works Minister Umahi
Nigeria’s Minister of Works, David Umahi, has revealed that four companies have expressed interest in fully funding, taking over and tolling Section 1 of the Lagos–Calabar Coastal Highway. Speaking during an end-of-year press briefing, Umahi said the firms are willing to refund 100 percent of government expenditure on the section, citing the project’s high return on investment and commercial viability. He said the move aligns with the Tinubu administration’s strategy of leveraging private-sector participation for major infrastructure projects. The 700-kilometre highway, estimated to cost ₦15.6 trillion, has faced criticism over transparency and cost, with former Vice President Atiku Abubakar and others calling for full disclosure of contractual and financing details.
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